Banks that don't adapt to new reality will fail, ECB's Nouy says

Reuters

Published Oct 19, 2016 01:53PM ET

Banks that don't adapt to new reality will fail, ECB's Nouy says

FRANKFURT (Reuters) - Banks that do not adapt to the new reality of low interest rates, competition from fintech companies and tighter regulation will fail, one of the European Central Bank's top supervisors said on Wednesday.